Type of people who buy bitcoin. - page 6.

Renampun

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Quote from: maxreish on March 26, 2021, 02:49:56 AM

Of course!

I am not an elite person but I can manage to buy bitcoin. Though it doesn't one whole bitcoin but as long as you have some part of it, it is still considered bitcoin. This isnt about each individual's stand or position in life. Doesnt matter how many bitcoins we own or who has accumulated it. It is about how we became bitcoin enthusiasts

true, owning Bitcoin is not a compulsion, it is a desire...
little by little I collect the Bitcoin that I got, I firmly believe that collecting slowly is much calmer than direct a lot. during the peak of the pandemic yesterday Bitcoin has helped me and my family a little, in the future I believe Bitcoin will help us and our family a lot more. *hodl

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Quote from: TheBitcoineers on March 25, 2021, 06:08:12 PM

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Well there's no exclusivity in terms of who can buy Bitcoin.
Even those below middle class have the means of access to it, be it a personal trade and hold their coins in a cold storage so that they won't be required to be connected to the internet to access their coins.
Though it isn't to be expected that one whole coin would be bought though.

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Of course!

I am not an elite person but I can manage to buy bitcoin. Though it doesn't one whole bitcoin but as long as you have some part of it, it is still considered bitcoin. This isnt about each individual's stand or position in life. Doesnt matter how many bitcoins we own or who has accumulated it. It is about how we became bitcoin enthusiasts

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Quote from: TheBitcoineers on March 25, 2021, 06:08:12 PM

Hello. So, I was wondering if bitcoin is something that only the privileged and elite who have extra money leftover can invest in or not. Are normal people working minimum wage buying bitcoin, even if it is a small amount? Thanks.

Bitcoin is not so unreachable currency. Anyone can buy and sell Bitcoin. People invest in BTC even with a small amount of money. It may be not the case in your country and it can cost more money than other countries because of exchange rates. If we consider that Bitcoin was cheap in the past, so it is not the case that only privileged and elite people can buy.

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Quote from: TheBitcoineers on March 25, 2021, 06:08:12 PM

Hello. So, I was wondering if bitcoin is something that only the privileged and elite who have extra money leftover can invest in or not. Are normal people working minimum wage buying bitcoin, even if it is a small amount? Thanks.

Bitcoin don't have a specific people to purchase it, everybody are entitled to buy at any point provided that your money is available and also a particular amount you have can purchase the same value of cryptocurrency you want, according to the kinds of cryptocurrency you have in mind to buy, so if you were having interior motive that its a reserved money people use in buying Bitcoin is a capital lie, it's like investment, you can invest with any format of life in order to certified willingness into what ever you have as a plan.

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Quote from: TheBitcoineers on March 25, 2021, 06:08:12 PM

Hello. So, I was wondering if bitcoin is something that only the privileged and elite who have extra money leftover can invest in or not. Are normal people working minimum wage buying bitcoin, even if it is a small amount? Thanks.

I think even a normal people who earn minimum wage daily can also buy bitcoin as one of their investment and make it as good opportunity to make their life better just like what the other have experience.

Buying bitcoin isn't always for rich who has excessive money as long as we want to invest there we cant buy bitcoin because bitcoin price is not always in the right place; we can buy sometimes in lower price and we can sold it in high price to make good profit on it.

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Quote from: TheBitcoineers on March 25, 2021, 06:08:12 PM

Hello. So, I was wondering if bitcoin is something that only the privileged and elite who have extra money leftover can invest in or not. Are normal people working minimum wage buying bitcoin, even if it is a small amount? Thanks.

Bitcoin is not an investment for people with different financial backgrounds to invest in or not! Bitcoin is a currency that you should use when you feel like the financial sovereignty that it offers is something you need.

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it all depends on how efficient you are in managing your expenses. Bitcoin is not meant for the elite or the privileged, it is for everyone. You can invest a minimum of a dollar or whatever you can afford to spare every month. In my country, you can buy Bitcoin for as low as $2 from a local exchange.

As the USD value of Bitcoin increases, it will be hard for anyone to buy 1Bitcoin but you still can buy a few satoshis every month and in the near future those satoshis will get converted into 1Bitcoin if continue to buy.

electronicash

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anyone can buy a small amount. anyone who wants to invest their very little amount of money in order to have a better chance in the future will buy BTC. you don't have to be a millionaire but having just internet access will give you a chance to win.

certainly, the ones who can afford are buying BTC, the rich ones are buying BTC because they are also investing. you could also say there are criminals also buying BTC.
the elite sure are the ones going to be the big buyers. you can look at elon musk. we never know how much BTC he got.

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Quote from: TheBitcoineers on March 25, 2021, 06:08:12 PM

Hello. So, I was wondering if bitcoin is something that only the privileged and elite who have extra money leftover can invest in or not. Are normal people working minimum wage buying bitcoin, even if it is a small amount? Thanks.

Everyone could buy and use it,
No matter how rich or poor a person is they could use it and earn from it.
It is for everyone not just for the rich we don't need to own 1 whole BTC we could just buy or hold what we could afford.

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Quote from: meanwords on March 25, 2021, 10:01:25 PM

Quote from: TheBitcoineers on March 25, 2021, 06:08:12 PM

Hello. So, I was wondering if bitcoin is something that only the privileged and elite who have extra money leftover can invest in or not. Are normal people working minimum wage buying bitcoin, even if it is a small amount? Thanks.

Don't worry about how much you are investing as long as you can afford to lose it. I'm religiously investing like $0.5 every single day since 2018 whatever the price. Bitcoin became like my personal piggy bank. It's not much if you think about it but do the math and you'll realized how big this can be. It's better if you are earning more than you need.

That is why bitcoin has a small fraction and the smallest is 1 satoshi. You can invest even 1 satoshi if you want, but if you have a job, it is reasonable if you invest at least 2-3% of your monthly earnings invest on bitcoin. But this upon on the willingness of people because there are types of people who always afraid of investment. In short, we had a different mindset.

There is no problem if you are the type of person who has a source of income in the minimum wage, if you can afford to invest, just go for it.

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Bitcoin isn't for a small social group solely. I believe it's for the type of people who worry about their future and the future of those they love and care for, doesn't matter if you are rich or poor. You don't need to worry about your investment size, because even some hundreds of thousands of satoshis worth the purchase. Keep in mind there can be only 21 million of btcs in the world and many of them are already lost, so there is a lot of potential the currency is going to increase much more in price as demand (adoption) increases, turning the investment you make today very profitable tomorrow.

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Quote from: TheBitcoineers on March 25, 2021, 06:08:12 PM

Hello. So, I was wondering if bitcoin is something that only the privileged and elite who have extra money leftover can invest in or not.

Different types of bitcoin buyers
- Buyers who buy after their investigation on bitcoin (technology, usecases, adoption, future growth)
- Buyers who buy after being convinced by the others (talk, discussions, news, media, pump & dump signal groups). They don't have knowledge, don't do investigation. Only buy based on recommendation and hope for luck.
- Buyers who bet their lives with bitcoin but use their own money. They don't take loan to buy bitcoin.
- Buyers who bet their lives with big loan to buy. They are one of worst buyers.

Quote from: satoshi on February 06, 2010, 06:25:53 PM

Eventually at most only 21 million coins for 6.8 billion people in the world if it really gets huge.

But don't worry, there are another 6 decimal places that aren't shown, for a total of 8 decimal places internally. It shows 1.00 but internally it's 1.00000000. If there's massive deflation in the future, the software could show more decimal places.

If it gets tiresome working with small numbers, we could change where the display shows the decimal point. Same amount of money, just different convention for where the ","'s and "."'s go. e.g. moving the decimal place 3 places would mean if you had 1.00000 before, now it shows it as 1,000.00.

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Quote from: Barry Mantle on March 25, 2021, 09:15:22 PM

Yes, my friend, even if you only have a small amount of money, you can invest in a small amount of Bitcoin hoarding, because the appreciation of Bitcoin is huge, you don't have to worry about whether it rises or falls every day, just as a long-term investment.

You should save the small amount of money and invest in BTC by batch so that you will not hurt by transaction fee. Besides that, The minimum amount of investment in BTC is very high due to the transaction fee amount and exchange minimum deposit. Honestly, BTC is not that much low budget investors friendly. Much better to invest on small caps if you have low budget.

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Quote from: TheBitcoineers on March 25, 2021, 06:08:12 PM

Hello. So, I was wondering if bitcoin is something that only the privileged and elite who have extra money leftover can invest in or not. Are normal people working minimum wage buying bitcoin, even if it is a small amount? Thanks.

Don't worry about how much you are investing as long as you can afford to lose it. I'm religiously investing like $0.5 every single day since 2018 whatever the price. Bitcoin became like my personal piggy bank. It's not much if you think about it but do the math and you'll realized how big this can be. It's better if you are earning more than you need.

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Quote from: TheBitcoineers on March 25, 2021, 06:08:12 PM

Hello. So, I was wondering if bitcoin is something that only the privileged and elite who have extra money leftover can invest in or not. Are normal people working minimum wage buying bitcoin, even if it is a small amount? Thanks.

I don't know what you think about Bitcoin , but if you think this will be your literal "Investment" then why worry about that Small amount of investing?

If you will take a look back in last year ,Bitcoin price lowered the value down to 4k , and just with in almost a year? the price climbs up to more than 15x , so why hesitate to invest here?

Barry Mantle

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Yes, my friend, even if you only have a small amount of money, you can invest in a small amount of Bitcoin hoarding, because the appreciation of Bitcoin is huge, you don't have to worry about whether it rises or falls every day, just as a long-term investment.

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Quote from: TheBitcoineers on March 25, 2021, 06:08:12 PM

Hello. So, I was wondering if bitcoin is something that only the privileged and elite who have extra money leftover can invest in or not.

Bitcoin initially was developed as a payment method, it was not a investment or speculative asset. So Satoshi created bitcoin for this purpose then it's for everyone. Although bitcoin has evolved in the last 10 years, the tenant still remains the same, whales, average Joe traders, working people is free to join and 'invest'.

Quote from: TheBitcoineers on March 25, 2021, 06:08:12 PM

Are normal people working minimum wage buying bitcoin, even if it is a small amount? Thanks.

Yes, you can still manage to do it even if you are a normal minimum wager, you can try DCA,

https://www.investopedia.com/terms/d/dollarcostaveraging.asp

YOSHIE

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Quote from: TheBitcoineers on March 25, 2021, 06:08:12 PM

Hello. So, I was wondering if bitcoin is something that only the privileged and elite who have extra money leftover can invest in or not. Thanks.

Who said that to you, you shouldn't think so, satoshi didn't say so.

Everyone can own Bitcoin even if he is not an elite person or something.
The gist: Bitcoin's purpose is as below.

Quote

Bitcoin is money, and money is always used for both legal and illegal purposes. ... Bitcoin is designed as a major step towards making money safer and at the same time serving as a form of protection against financial crimes.
For example, bitcoin cannot be counterfeited at all.

So, everyone can own it and use Bitcoin even though he is a person who has minimal income.

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Quote from: TheBitcoineers on March 25, 2021, 06:08:12 PM

Hello. So, I was wondering if bitcoin is something that only the privileged and elite who have extra money leftover can invest in or not. Are normal people working minimum wage buying bitcoin, even if it is a small amount? Thanks.

The word "normal" isn't applicable because if you will think, there are some abnormal persons then??
I think the exact word is "average" people. Those who aren't that rich and not considered as elite like most of us here.

I'm an average person and for sure there are others here who aren't considered privilege and not belong into the elite families but somehow manage to buy and hold Bitcoin. Average people who are having a minimum wage salary can still buy Bitcoin. Anybody can buy Bitcoin but it will depend on the person itself.

Does he have extra money to buy it? Does he know where and how to buy Bitcoin? Is buying Bitcoin will not affect his daily lifestyle or daily life? Some of the question that people have different answers but in general, anybody can buy Bitcoin.

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